Japan actually had the same feeling as China does now.

In 1986, Japan's exports accounted for 10% of the global total, with almost everything from electronics to cars being theirs.

At that time, China was just starting to learn how to make clothes, while Japan had already sold the Walkman to the world.

But what happened later? The lost 30 years, aging population, bubbles, excessive regulation...

Today, it accounts for only 3% of global exports.

China has risen.

After joining the WTO in 2001, it almost climbed linearly, from light industry to heavy industry, then to semiconductors and new energy; which sector hasn't been involved?

In 2023, China's global export share is 14.2%.

This is no longer just a "world factory," but the lifeblood of the global supply chain.

This is not just a matter of a country's GDP,

but who dominates the trade order.

Japan is about "technology + quality,"

while China is about "scale + efficiency + execution capability."

The former is suitable for solo battles, while the latter excels at forming alliances and building systems.

Now everyone is trying to mitigate risks.

The US and Europe say they want to diversify supply chains, claiming that the risks in China are too concentrated and that manufacturing needs to "return."

But the problem is, if you don't want to buy, the global downstream still wants to use.

China does not argue; China only builds roads.

With factories in Southeast Asia, ports in Africa, warehouses in Mexico, plus an eWTP, you can't avoid it.

Many people are still discussing whether the "Chinese era has ended."

I think they are asking the wrong question.

The right question should be:

After 2030, who will build the underlying structure of global trade?

Goods are just the surface,

the real competition is: energy flow, data flow, rules flow.

The mountain that Japan climbed back then, China is now standing on.

Next, is it about guarding the mountain, or creating another mountain?